Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

May 22, 2024
Company name:Name of representative:

Inquiries:

MITSUI E&S Co., Ltd.
Takeyuki Takahashi, President,
Representative Director, and CEO(Securities code: 7003, TSE Prime Market)
Kazuo Hayashi, General Manager ofAccounting Dept.
(TEL: +81-3-3544-3210)

Notice Concerning Revisions to Full-Year Consolidated Financial Results Forecasts
and Dividend Forecasts for FY2024
MITSUI E&S Co., Ltd. (the “Company”) hereby announces that it has decided to revise its consolidated financial results
forecasts and its dividend forecasts for the fiscal year ending March 31, 2025, both of which were “undetermined” as ofMay 14, 2024, as described below.
1.

Revisions to Full-Year Consolidated Financial Results Forecasts for FY2024
Forecasts for consolidated financial results for FY2024 (From April 1, 2024 to March 31, 2025)
ProfitOperatingNet sales
Ordinary income attributable toincomeowners of parent
Millions of yen Millions of yen Millions of yen Millions of yen

Earnings pershare
Yen

Previous forecasts (A)300,000

17,000---

Revised forecasts (B)300,000

17,00018,00035,000360.22

Change (B-A)--

18,00035,000-Change ratio (%)-----(Reference)
Actual results forFY2023

301,875

19,63020,711

25,051

255.73Note 1: Above forecasts are based on information currently available to the Company and certain assumptions that theCompany considers reasonable. Actual results may differ from the above figures due to various factors in the future.
Reasons for Revisions
As of May 14, 2024, forecasts for Ordinary income and Profit attributable to owners of parent were “undetermined”
because it was difficult to reasonably calculate the impact related to “Announcement of the Partial Sale of Shares Held”
disclosed on the same day and reflect them in the financial results forecasts.
Subsequently, the underwriting price for this secondary offering has been determined as stated in the Interim Reportannounced today, and the rest of the forecasts can now be calculated. These financial results forecasts are calculated basedon the assumption that the secondary offering of all shares (planned) would be executed as planned, including the shares tobe sold by over-allotment.
The Company expects that the sale will be an opportunity for active discussions with financial institutions and further
improvement of its financial position, including a higher equity ratio and a healthy current ratio.
2.

Revisions to Dividend Forecasts for FY2024
Common StockFirst
quarter-end
Yen

Annual dividend per share
SecondThird
Fiscalquarter-end
quarter-end
year-end
Yen
Yen
Yen

Total
Yen

Previous forecasts(announced on May 14, 2024)-0.00---

Revised forecasts

-0.00

-

12.00

12.00

Actual results for FY2023

-0.00

-

5.00

5.00

Reasons for Revisions
Dividend forecasts for the fiscal year ending March 31, 2025, were “undetermined” due to the difficulty in determining thefinancial results forecasts. Now that it has become possible to reasonably calculate the financial results forecasts, theCompany hereby announces the dividend forecasts.
The year-end dividend forecasts for the fiscal year ending March 31, 2025, will be increased on the assumption that theCompany will execute the early redemption of the Class-A Preferred Shares with the funds obtained from the partial sale ofshares held and distribute the dividend resources from the preferred shares to the common stock.